& # 39; Explosive growth of Blockchain has probably arrived and ended & # 39 ;: Vitalik Buterin


The blockchain fashion seems to fade, and the growth of cryptocurrencies and blockchain could approach the ceiling, says the famous co-founder of Ethereum Vitalik Buterin. In an exclusive interview with Bloomberg during the Ethereum Industry Summit conference in Hong Kong, the cryptocurrency leader closely followed said: "The space of the blockchain is coming to the point where there is a ceiling in sight. "

Increase in Encryption and Adoption Limiting Growth [19659003] Buterin attributed his thoughts to the growing awareness of the blockchain technology and the cryptocurrencies built on it. "If you talk to the average educated person at this point, they probably have heard of blockchain at least once." There is still an opportunity for a further 1,000-fold growth of anything in space. "

While the rapid growth of cryptic evaluations in the early years of their launch was the result of marketing and attempts to achieve broader adoption, that initial phase is coming to an end, Buterin opines. The growth in the next phase will result in attempts to transform awareness and interest into a deeper involvement on the part of the common public. "It moves from people interested in the real applications of real economic activity," he adds.

Ether, the second largest virtual currency after Bitcoin, was the worst of the first cryptocurrencies in the last week. It fell 8.9% during the ET evening on Friday, and the autumn continues Monday morning with its market capitalization at 1.49 billion dollars from writing, according to data available on Coinmarketcap .com. Because of the widespread adoption of ether, its declining ratings are expected to have an impact at the sector level. For example, many encrypted startups that used the initial coin path (ICO) to raise capital did so in the ether tokens. To cover operational expenses, they may be forced to liquidate their ether holdings. (See also, Why the Altcoins fall faster than Bitcoin? )

Bloomberg further cites a previous prediction of Bloomberg Intelligence commodity strategist Mike McGlone who believes that ether could further collapse at a support level of $ 155 due to growing competition, market volatility and the maturing industry. Overall, the cryptocurrency market has seen a cancellation of around $ 640 billion from the January peak estimates. Bitcoin's most popular cryptocurrency has lost more than 50 percent since the start of the year (19279004). The ether traded at $ 197 on Monday morning ET falling about 3 percent in the last 24 hours, while Bitcoin was trading at $ 6.324, down about 1.3 percent in the same period. (See also ETH Buterin: Crypto's main problem for free riders .)

Investing in cryptocurrencies and Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article it is not a recommendation of Investopedia or the writer to invest in criptovalute or ICO. Since the situation of each individual is unique, a qualified professional should always be consulted before making any financial decision. Investopedia does not make any representations or warranties regarding the accuracy or timeliness of the information contained in this document. On the date this article was written, the author does not possess cryptocurrencies.

[ad_2]Source link